International Monetary Fund: Global growth forecasts are to be
downgraded by the IMF amid concern that the euro crisis is sending economies
into a deep freeze. The euro slid to its lowest level against sterling since
2008, trading at 79.32p. Christine Lagarde, the IMF managing director,
signalled that the fund’s 3.5 per cent prediction

Output prices: The Office for National Statistics said that prices
charged by manufacturers fell 0.4 per cent between May and June amid falling
oil costs — the biggest drop since November 2008.

Bank of England: Ian McCafferty, the CBI’s chief economic adviser, was
appointed to the Bank’s Monetary Policy Committee. Andrea Leadsom, the
Conservative MP, said that while she was sure that Mr McCafferty would do a
“great job”, there needed to be more diversity.

German manufacturing: Industrial output rose by 1.6 per cent in May,
after dropping by 2.1 per cent in April.

US jobs: Non-farm payroll statistics showed that 80,000 jobs were
created in the United States last month, up from a revised rise of 77,000
the month before but still seen as a disappointment by analysts.

Libor manipulation: The Serious Fraud Office will launch a criminal
investigation into the alleged rigging of the Libor rate, it has confirmed.
The move follows a record £290 million fine levied against Barclays bank
last week for manipulating the Libor and Euribor interbank lending rates.

Barratt Developments: Clive Fenton has resigned as a director with
immediate effect, to pursue other interests. He will be replaced by Steven
Boyes, the executive director, who has been appointed chief operating
officer responsible for housebuilding operations.

Self building: Grant Shapps, the Housing Minister, said that the
Government would provide land and a £30 million fund for people that want to
build their own homes.

Aga Rangemaster: With the Irish buying fewer Agas and pricey cooking
ranges and the Americans falling out of love with the French furnishings of
Grange, the Aga Rangemaster group has admitted sales are in decline.

Diageo: The drinks group has decided that Woodside is the perfect place
to invent all kinds of new booze. Here, its innovation centres will make new
drinks such as creations like Snapp, an apple-flavoured cocktail aimed at
African women.

Associated British Foods: The owner of Kingsmill bread has placed a £34
million bet on chapatti by taking Britain’s biggest ethnic flour brand off
the hands of Premier Foods, its debt-laden rival. Associated said that
buying Elephant Atta would complement its other Asian brands.

Peugeot Citroën: Shares in Europe’s second-largest carmaker, after
Volkswagen, slumped by nearly 8 per cent. The fall in sales to 1.62 million
vehicles in the first half of the year resulted from a torrid time in its
traditionally strong home and neighbouring southern European markets.

Japan Tobacco International: With brands including Silk Cut, Camel and
Winston cigarettes, the group has built up a £2 million war chest to fight
the Department of Health and suggested that it could take the Government to
court if it goes ahead with plans to force all cigarettes to be sold in
plain packaging.

Fiberweb: The speciality materials producer said that first-half
underlying profits were expected to be flat, but it would benefit from
falling raw material costs in its second-half. A new site in Maldon, Essex,
is expected to open in July, which will allow it to close a site in
Pontypool and make efficiency savings.

Best Western: The hotel group launched a hotline after a rise in
enquiries from guests who wanted to stay with their pets. Hotline operators
will be able to discuss which of the chain’s hotels are pet-friendly and how
they cater for special animal guests.

News International: The publisher of The Times and The Sun
has paid £30 million to the regional publisher Johnston Press to terminate a
printing contract. The end of the long-term deal provides a useful cash boon
to the debt-laden Johnston Press but reduces the amount of work running
through its presses in Portsmouth and Dinnington.

Norwegian oil: Norway’s oil industry and labour unions have agreed to
meet and attempt to reach a wage deal and ending a strike which has caused a
drop in crude and gas output, Hanne Bjurström, the Labour Minister, said.

Farepak: The owner of HBOS pledged millions in compensation to Farepak
customers but faced fresh attacks over the bank’s role in the demise of the
Christmas hampers group. Lloyds Banking Group promised to pay £8 million to
customers of Farepak, which collapsed in 2006 leaving more than 120,000
savers in the lurch.

Robert Dyas: Theo Paphitis is poised to buy the hardware and DIY chain
put up for sale this year by Lloyds Banking Group.

John Lewis: The department store chain said that sales had risen by 17
per cent in the week to June 30 as a clearance sale drummed up trade. Sales
of electricals and home technology were up 30 per cent, while it sold record
numbers of umbrellas amid the poor weather.

Marshalls: Investors were told that revenues had fallen nearly 6 per
cent to £167 million in the first six months of the year. Most of Marshalls’
business is in the public sector or commercial markets, with domestic paving
accounting for about third of Marshalls business.

Vodafone: António Coimbra is set to be appointed as the new head of its
Spanish unit, according to reports. The incumbent Shameel Joosub was
promoted to run its South African division, where Vodacom’s chief executive
Pieter Uys stepped down after 20 years with the business. Mr Coimbra is head
of the company’s Portuguese unit and will manage the Spanish division.

4G: Everything Everywhere has trademarked a host of brands, including
4G Everything Everywhere, 4G Every, 4G Everything and 4G EE with the
Intellectual Property Office despite speculation that it could move to adopt
a new brand in the coming months.

London bus strike: Peter Hendy, commissioner at London’s public
transport authority Transport for London, believes that a bus strike is
unlikely during this month’s Olympic Games, despite an unresolved dispute
over bonuses for drivers.

Centrica: According to the Government, the potential damage to the
Sandwich tern, the small, black-capped seabird’s population from Centrica’s
would-be £2 billion wind farm off the north Norfolk coast is a price not
worth paying.

Top manager to leave RBS after revelations about embarrassing social media messages ... Owner of The Real Greek acquires Franco Manca for £27.5m ... US crude oil production hits highest level in more than a century